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Canaan (ankle) will be waived by the Suns, Scott Bordow of the Arizona Republic reports.
Canaan recently underwent season-ending surgery to repair a fractured left ankle at the start of February and despite the organization's continued interest in keeping him around, they just couldn't afford to let go of a healthy player after acquiring Elfrid Payton at the trade deadline. While no timetable has been given for Canaan's recovery, it will likely be quite awhile until he sees the court again and he shouldn't be in line for another contract until back at full strength. Look for Payton to take over starting point guard duties with Devin Booker (hip) injured, while Tyler Ulis operates as a reserve in the backcourt.

Suns interim head coach Jay Triano said following Wednesday's 102-88 win over the Mavericks that Canaan would undergo season-ending surgery Thursday on his fractured left ankle, Scott Bordow of The Arizona Republic reports.
This was always the expected outcome for Canaan after he broke the ankle in gruesome fashion while driving to the hoop late in the first quarter Wednesday. The point guard was stretchered off the court following the injury while his teammates and Mavericks players looked on in visible shock. Canaan, an impending free agent this offseason, is expected to face a lengthy rehab for the injury and will likely remain unsigned until he demonstrates in workouts that he's fully healthy. Canaan's absence for the rest of the season likely guarantees second-year player Tyler Ulis a permanent spot in Phoenix's rotation as the backup to starting point guard Devin Booker.

Canaan has been diagnosed with a fractured left ankle, Scott Bordow of The Arizona Republic reports.
Canaan had to be stretchered off the court Wednesday after landing awkwardly on his left leg, and as originally expected, further tests confirmed he's dealing with a fractured ankle. He'll likely be forced to miss the remainder of the season as a result, though the Suns have yet to provide any sort of update regarding a potential timetable for the 26-year-old. This is a tough break for Canaan, who earned himself a guaranteed contract with the Suns after originally joining the team under the NBA's injury hardship exception earlier in the year. Tyler Ulis should see an uptick in minutes with Canaan sidelined.

Canaan, with Devin Booker (ribs) re-entering the starting lineup, will return to a reserve role for Wednesday's game against the Mavericks.
Canaan should return to his regular workload off the bench Wednesday. He's averaging 9.4 points, 4.2 assists and 2.4 rebounds across 22.9 minutes per game this season.

Canaan posted four points (1-5 FG, 0-2 3Pt, 2-2 FT), three rebounds, and three assists in 17 minutes during Monday's 120-109 loss to the Grizzlies.
Canaan filled in as the starter at point guard for the injured Devin Booker (rib), though the previous full-time starter (Tyler Ulis) was much more effective, tallying 13 points, seven dimes, five steals, and one board in 31 minutes off the bench. Every once in a while Canaan is still capable of going off, but he's far too inconsistent to be relied on in most leagues.